The failure to pass a new health care reform bill has traders questioning possible tax cuts and infrastructure spending, and is supportive of lower mortgage rates.

Recent economic data has cast doubt on whether the Fed will raise policy rates again this year. Lack of inflation is supportive of lower mortgage rates.

]]>Arizona Enjoys 6.9% YOY Housing Price Growthhttp://www.az-realty.com/?p=1262
Thu, 20 Jul 2017 01:01:49 +0000http://www.az-realty.com/?p=1262Arizona’s 6.9% trails California (7.1%) and Texas (7.8%) per Freddie Mac House Price Index published on July 6, 2017. It is a value-weighted average of the state indexes where the value weights are based on Freddie Mac’s single-family credit guaranteed portfolio.

Giving the much higher property taxes levied by both Texas and California every year, Arizona home owners shall benefit more of the price increase at their lower cost of ownership.

Thanks to high-tech sectors in Washington state and Oregon, both housing market reflect exactly the same as the employment market. Washington advanced 12% year-over-year while Oregon stands on the 3rd place with its 10.4% following Florida’s 11%.

]]>National Average FICO Score hit 700!http://www.az-realty.com/?p=1258
Mon, 17 Jul 2017 20:28:04 +0000http://www.az-realty.com/?p=1258Credit scores are rising, as the national average FICO score hit 700 for the first time in history. FICO’s VP for scores and analytics said a 700 score is considered “very good credit.” Better credit scores can get buyers more favorable mortgage terms.

A national listing site found that the biggest homeowner regret was not choosing a larger home, while the biggest renter regret was continuing to rent instead of buying.

]]>Housing News – July 14, 2017http://www.az-realty.com/?p=1255
Sat, 15 Jul 2017 06:10:23 +0000http://www.az-realty.com/?p=1255Job growth surged to 222,000 in June, and jobless claims were also down this week. Strong employment keeps the Fed on track to raise rates again this year.

The producer price index, a key gauge of inflation, was up 0.1% last month. Fed officials are closely watching inflation, which pressures mortgage rates higher.

In testimony to Congress this week, Fed Chair Janet Yellen shared that the Fed will gradually raise policy rates and reduce balance sheet holdings this year.